Fiserv Inc.'s board declared a 2-for-1 stock split of Fiserv common stock and a proportionate increase in the number of the company's authorized common shares.

Each shareholder will receive 1 additional share for every outstanding share at the close of business on March 5. The additional shares are payable on March 19.

The company also announced that Harry DiSimone had joined its board.

DiSimone serves as a director of iovation Inc. and was co-managing partner of Encore Financial Partners from 2010 to 2015.